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1st June 2017
ANNOUNCEMENT BY NEW TALISMAN GOLD MINES LIMITED (NTL)
FOR IMMEDIATE RELEASE
COMMENCEMENT OF MINE ACTIVITIES AT TALISMAN
New Talisman today is delighted to announce that the Board has approved the
direct expenditure of 2.2M NZD budget for its mine related activities.
Equipment has begun to be purchased and will be mobilised to site as of
Friday 2nd June and the days ahead.
Chairman Charbel Nader stated "Our team has, with the support of our
shareholders and stakeholders, worked tirelessly to get to this important
milestone, and we are pleased to be at a stage where we can commit to the
advancement of this storied mine''s development. We are thankful for all the
local community and government support which has ensured that this
development proceeds in a manner that provides benefits to all stakeholders
and the broader community."
The activities being undertaken include
o Site establishment and security
o Installation of ventilation management systems
o Installation of water storage facilities
o Installation of compressed air supply
o Installation of Generator
o Upgrades of water pond
o Mobilisation of bogger and digger to mine
o Refurbishment of level 8 from portal through to Mystery vein location
Terra Firma Mining Ltd an experienced local company have been engaged to
provide civil engineering services to the project. The company''s knowledge
and experience operating in the local mining and underground construction
sectors, coupled with a strong track record in health and safety management,
will be of considerable value in the safe and efficient execution of the
project.
Placement of other technical and safety critical roles is progressing well,
NTL are fortunate to be able to draw on the abundant skills of both companies
and individuals in the area and are gratified at the level of interest in,
and strong support for, our endeavours shown by local residents.
The company does not require a Traffic management plan for the activities
above which fall within the Certificate of Compliance recently issued by the
Hauraki District Council.
Site Closure
As announced The Department of Conservation has advised that the company''s
application for closure of the mine site at the portal, has been approved and
closure will shortly commence
We would emphasise the need for public to be aware of dangers of entering
mine sites without the appropriate safety equipment and knowledge. In due
course the company will offer the ability for tours to the mine as has been
done in previous years in a safe and secure way.
Talisman Deeps
The significant body of works on the Talisman deeps project is nearing
completion. Following the initial technical work such will be peer reviewed
to ensure conformity with JORC 2012. The work being undertaken provides
significant potential for expanded operations at the extensions of the mine
and are likely to be complete by the end of Q1.
CEO Matthew Hill said "We are delighted to finally begin operations which we
hope will bring this historically productive New Zealand mine once again on
the road back to full production. We are very excited by the technical
developments on the deeps which provide for the potential to significantly
increase the upside and extended mine life to our future operations."
Matthew Hill
Chief Executive Officer
New Talisman Gold Mines Limited
About New Talisman Gold Mines Ltd
About New Talisman Gold Mines Ltd
New Talisman Gold is a dual listed (NZSX & ASX: NTL) with over 2,300
shareholders who are mainly from Australia and New Zealand. It is a leading
New Zealand minerals development and exploration company with a mining permit
encompassing the Talisman mine one of New Zealand''s historically most
productive gold mines. Its gold properties near Paeroa in the Hauraki
District of New Zealand are a granted mining permit, including a JORC
compliant mineral resource within the original Talisman underground mine, and
a Heads of agreement with Newcrest on an adjacent exploration permit along
strike from the mine. The company is now advancing its plans to develop the
mine, and advance the exploration project.
More about New Talisman Gold at www.newtalisman.co.nz
End CA:00302069 For:NTL Type:MKTUPDTE Time:2017-06-01 15:09:41